Socialbakers

Socialbakers is a global AI-powered social media marketing company offering a marketing software-as-a-service platform called the Socialbakers Suite. It is used by brands like McDonald's, L'Oreal and Desigual for social media marketing on Facebook, Instagram, Twitter, YouTube, LinkedIn, Google+, VK, and Pinterest.

Socialbakers, a.s.
TypePrivate Company
IndustryInformation technology
FoundedOctober 13, 2008
Headquarters
Prague
,
Czech Republic
Areas served
Prague, London, San Francisco, New York, Mexico City, Plzeň, Split, Singapore, Sydney, Paris, Munich, São Paulo, Dubai and Istanbul
Key people
Yuval Ben-Itzhak (CEO), Martin Huml (COO & President), Jan Rezab (Chairman)
Revenue973,380,000 Czech koruna (2019) 
−122,634,000 Czech koruna (2019) 
−124,517,000 Czech koruna (2019) 
Total assets302,303,000 Czech koruna (2019) 
Number of employees
350
ParentAST SB Buyer
Websitesocialbakers.com

History

Socialbakers was established as Facebakers on October 13, 2008 by Jan Rezab, Jiri Voves, Lukas Maixner, Martin Homolka.[1][2]

In July 2010, Socialbakers launched the FanPage Analyzer that gave users information about issues their Facebook pages experienced, as well as for their competition.[3][4] At the end of 2010, Facebakers was renamed to Socialbakers to avoid confusion between the two.[5]

In January 2011, the firm launched Market Insights,[6] which allowed users to monitor market sectors on Facebook, compare their page within the chosen market sector, and analyze the performance of their page and their competitors' pages. In the same month, they began the Social Media Awards, which judged Facebook pages according to a number of key factors, including Best Fan Engagement Rate and Most Engaging Page. In March, Socialbakers launched Facebook city statistics.

In May 2011, Socialbakers launched a Facebook page management system, CMS. Later that month, Socialbakers started monitoring LinkedIn statistics by country. This was the first time Socialbakers had gone outside Facebook monitoring, stating that "social networking is more than just Facebook". On this same note, they launched Twitter profile statistics that July, monitoring brands and media companies alike. In August of that year, Socialbakers introduced Engagement Builder (previously called the Social CMS), which was an improved Page Manager for businesses.

In September 2011, Socialbakers raised $2 million in funding from Early Bird Venture, which was used to acquire companies like Checkfacebook.com and Social RSS (a feed reader for Facebook).[7] In October, they integrated Google+ monitoring into their portfolio of social networks. By the end of the year, they had started monitoring YouTube channel statistics, with daily stats and key rankings.

In January 2012, Socialbakers launched Analytics for Twitter.[8] They started providing analytics of Twitter statistics like Daily Follower Growth, Daily Tweet vs. Retweet Ratio, Total Number of Mentions, and more. In March, they standardized engagement metrics for comparison across both Facebook and Twitter. In April, Socialbakers became Facebook's Preferred Marketing Developer.

In May 2012, Socialbakers launched the Rating of Brands (NPS), which allowed users to rate a brand from 0 to 10 according to "How likely it is that you would recommend the brand to your friends" and later that month, they launched YouTube Analytics in Analytics so that users could start monitoring YouTube Channels with metrics like Total Views, Daily Views, etc.

In June 2012, Socialbakers introduced the standard for social customer care, called "Socially Devoted".[9] The "Socially Devoted" certificate was awarded to those whose profile (Page Wall/Timeline) was open to questions and feedback from Fans (over 25% of global brands had closed their walls at the time), respond to at least 65% of questions, and responded to each Fan individually in a timely manner.[10] In August, they introduced a new tool called Listening, which allows users to search keywords on social networks and update them in a dashboard. Later that month, a new limited beta version of Market Insights was launched. In September, Socialbakers introduced an upgraded version of the Builder platform, for marketers and businesses to manage and analyze their social media activity on multiple platforms.[11]

In November 2012, Socialbakers raised $6 million from Index Ventures, with additional follow-up funding from first-round investors. This was the second major investment in the company, after the $2 million from Earlybird Venture Capital.[12]

In February 2014, Socialbakers completed a $26 million Series C financing round. This new funding was led by Index Ventures.[13]

In May 2015, Engage organized their first social media conference in Prague, Engage Prague[14]

In June 2017 Socialbakers announced the hiring of ex-Outbrain executive Yuval Ben-Itzhak to run the business.[15] Socialbakers announced in collaboration with Sina Weibo push big data products.[16]

In 2017 Socialbakers became profitable, for the first time since its establishment.[2]

In September 2020, Astute acquired Socialbakers for an undisclosed amount.[17]

Tools and services

The Socialbakers Marketing Suite consists of several social media management tools, including Analytics, for "competitive insights" and benchmarking; Builder, an enterprise publishing tool; Ads, which optimizes and manages ads on Facebook and Twitter; Listening, which helps brands follow the conversations happening around their brand; and Professional Services, Socialbakers' consulting wing.

Socialbakers Analytics generates marketing information by monitoring social media profiles on Facebook, Twitter, LinkedIn, VK, Pinterest, and YouTube (with added reports for Instagram). The software offers performance indicators to measure fan growth, track key influencers, analyze engagement rates and interactions, benchmark performance against competitors and industry standards, optimize social media presence and generate graphical reports. Socialbakers Builder is a tool for scheduling and publishing content as well as aggregating the conversation on social media around a brand. Apart from the main product Suite, Socialbakers offers several services including EdgeRank Checker, a deep-learning algorithm that supposedly tells users what content works best for their brand's Facebook pages, among other things.

Social media analytics

Apart from the metrics that Socialbakers offers in their tools for brands to monitor, they have promoted several ways for brands to track their social media success and benchmark against competition. One of the first benchmarks was Socially Devoted - a certificate awarded to brands that respond to at least 65% of a high volume of questions that users ask them on Facebook and Twitter.[18] Socialbakers also awards Smart Storytellers, a benchmark that “looks at the number of Average Post Interactions in relation to post frequency".[19]

In October 2014, Socialbakers announced Promoted Post Detection, a service that allows brands to differentiate between paid and organic reach by using public data only. This allows brands to see the post boosting strategies of their competitors: how many posts they boost, and what percentage of interactions they gained with promoted content.

On the same day, Socialbakers announced that they had partnered with Lenovo to create a new social media benchmark called the Social Health Index, a custom report that allows brands to compare several metrics across multiple platforms against other brands of their choosing - from direct competition to general leaders in social.[20] This score is made by analyzing a client against their cluster, and breaking down performance for each brand on each network by four qualities (Participation, Acquisition, Retention and Shareability, or P.A.R.S).[21] The scores are all then averaged and a final picture emerges of how each competitor compares to one another, overall.

References
  1. "Socialbakers". Crunchbase. 2018. Retrieved November 18, 2018.
  2. Michal Šenk (September 18, 2018). "Analytická společnost Socialbakers míří k miliardě obratu. Poprvé za deset let své existence navíc skončila v provozním zisku" [Socialbakers analysts point to a billion sales. For the first time in ten years of its existence, it ended in operating profit]. Hospodářské noviny (in Czech). Retrieved November 18, 2018.
  3. Marisa Peacock (April 17, 2012). "Socialbakers Give Community Managers an Analytics PRO". cmswire.com. Retrieved November 18, 2018.
  4. "«Playboy» triunfa en Facebook" [Playboy triumphs on Facebook]. ABC (in Spanish). July 15, 2010. Retrieved November 18, 2018.
  5. "„Sociálni pekári" z Plzne dobyli svet" ["Social Bakers" from Pilsen conquered the world]. Hospodářské noviny (in Czech). August 7, 2014. Retrieved November 18, 2018.
  6. "Get To Know Facebook Users With Socialbakers' Market Insights". AllFacebook The Unofficial Facebook Blog. Retrieved 17 October 2012.
  7. "Earlybird Invests $2 Million in Social Media Analytics Firm Socialbakers". TechCrunch. Retrieved 7 October 2012.
  8. "Socialbakers Debuts New Facebook Analytics Product". AllFacebook The Unofficial Facebook Blog. Retrieved 17 October 2012.
  9. "SocialBakers launches the Socially Devoted industry standard". The Next Web. Retrieved 17 October 2012.
  10. "'Socially Devoted' manifest sets new standard for customer care". ZDNet. Retrieved 17 October 2012.
  11. "Socialbakers Adds New Features to Social Media Management System". Destination CRM. Retrieved 17 October 2012.
  12. "Venture Capital Dispatch". The Wall Street Journal. Retrieved 20 November 2012.
  13. "Social Analytics Company Socialbakers Raises $26M More". Techcrunch.com. Retrieved 18 February 2014.
  14. "CEA: Eventem roku je konference Engage 2015 | MediaGuru". www.mediaguru.cz. Retrieved 2016-07-30.
  15. PR Newswire (June 13, 2017). "Socialbakers Appoints Yuval Ben-Itzhak as Chief Executive Officer". PR Newswire. Retrieved November 18, 2018.
  16. "微博宣布与Socialbakers合作推大数据产品". techweb. Retrieved 4 July 2016.
  17. "Socialbakers acquired by customer engagement company Astute". TechCrunch. Retrieved 2020-09-17.
  18. "How Socially Devoted is Your Brand?". Bloomberg BusinessWeek. Retrieved 5 December 2014.
  19. "Socialbakers' new site is a treasure trove of social media data". The Next Web. Retrieved 5 December 2014.
  20. Barry Levine (October 23, 2014). "Socialbakers bakes its data analytics down to a Social Health Index". VentureBeat. Retrieved November 18, 2018.
  21. Ishbel Macleod (October 23, 2014). "Socialbakers and Lenovo create tool to help brands put social marketing performance into context". thedrum.com. Retrieved November 18, 2018.
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